KHALEEJ TIMES, Sunday, Aug 9, 2020 | Zul Hijjah 19, 1441
DLD to build transparency with new service
Emirates:
The Dubai Land Department (DLD) has launched a 'Green List' on its Dubai
Rest digital platform that will allow only registered brokers to communicate
with property owners when they enroll in the list.
Owners can opt to deactivate their accounts anytime they want. This service will
facilitate healthy communication between brokers and owners and reduce the
number of complaints of some real estate brokers reaching out to the owners,
without their consent.
The new service will reduce violations related to direct marketing, as it opens
additional marketing channels for companies, which ultimately leads to an
increase in the rate of real estate transactions and rental of vacant
properties, thereby serving the owners, tenants, and the brokers.
"Dubai Rest is the platform through which all real estate services are performed
by property owners, tenants, real estate brokers, developers, real estate
valuators, investors and all beneficiaries of the real estate market," said Ali
Abdulla Al Ali, director of the Real Estate Licensing Department at the Real
Estate Regulatory Authority (Rera).
"Since the Green List will directly link the owners to brokers, it also provides
a flexible and transparent communication channel to enhance relations between
both parties and achieve mutually beneficial results in a cost-effective manner.
We hope that this project will help stimulate real estate transactions and
enable the investor and the owner to make real estate transactions decisions
through an integrated set of digital procedures," Ali added.
Dubai's real estate market registered 22,779 transactions worth Dh72.5 billion
during the first half of this year despite the impact of coronavirus on the
sector and overall economy. About 7,834 transactions worth Dh24.5 billion were
recorded during the second quarter.
Firas Al Msaddi, CEO of fam Properties, hailed this initiative as property
owners will be saved from "cold calls" but called for awareness and marketing of
this initiative so that more landlords will use it.
"The new service will regulate the relationship between land owners and brokers.
It is really a good initiative. Landlords need to comply with it and help the
DLD by using enrolling on this app. The DLD can only build the platform but it
has to be used by land owners to work," said Al Msaddi, adding that there has to
be a lot of awareness, promotion and marketing so that land owners are aware of
it on how to use it.
"There is a great advantage for land lords that they are connected only to
certified brokers who are fully compliant with rules and regulations of the Rera
and the DLD. They will get much less number of cold calls on daily basis about
sale or rent of their property, concluded Al Msaddi.
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